The U.S. Senate Agriculture Committee scheduled a markup hearing for its crypto market structure bill on January 27, 2026, at 3:00 PM. Originally eyed for January 15, the delay gives lawmakers more breathing room to finalize the text, set for release on January 21.​ This move comes hot on the heels of the Senate Banking Committee's own markup this week, signalling Congress is serious about hammering out rules for digital assets after years of regulatory whiplash.​

Image Source: Senate AG Committee

Why the Delay and What It Means

Committee Chairman John Boozman (R-AR) explained the rescheduling ensures "transparency and comprehensive review," letting members dig into details without rushing. The bill aims to divvy up oversight between the CFTC and SEC, clarifying which agency handles what while protecting consumers and fostering innovation.​ Crypto advocates see this as a green light. After President Trump's pro-crypto executive actions and the GENIUS Act last year, this legislation could cement the U.S. as the "crypto capital of the planet." Expect debates on ethics rules tied to Trump's family ventures and bipartisan quorum requirements for regulators, both currently absent from drafts.​

Racing Against the Banking Committee

The Senate Banking panel dropped its draft Monday night, with over 130 amendments floated, covering stablecoin yield bans, public official conflicts, and even mixer definitions. Their Thursday hearing could spotlight flashpoints like restricting rewards on "static" stablecoin holdings, which banks say threaten deposits but innovators call anti-competitive.​ Differences persist: Ag's version leans toward CFTC primacy for non-security tokens, while Banking tweaks ethics and agency makeup. Reconciling these will be crucial for floor votes, but insiders say current texts lack bipartisan guardrails, risking stalls.​

Industry Reacts

Coinbase and the Blockchain Association hailed the timeline as "momentum-building," urging swift passage to end SEC "regulation by enforcement." Bitcoin hovered near $95,000 Tuesday, with markets shrugging off the delay as par for the course.​ Critics, including some Democrats, worry about lax ethics amid Trump's crypto ties. Sen. Elizabeth Warren has pushed back, but pro-crypto Republicans like Cynthia Lummis hold sway. If markup succeeds, full Senate debate could hit by February, aligning with House efforts.​

Bigger Picture

This is the capstone to 2025's breakthroughs. With Bitcoin ETFs at $50B+ inflows and stablecoins at $4T volume, clear rules could unlock trillions in institutional capital. But hurdles remain: DOJ probes into Fed independence add unrelated drama, potentially spilling into confirmations.​ For crypto users in India and beyond, U.S. leadership matters; global standards like EU's MiCA already influence Asia-Pacific flows. As Boozman puts it, this bill offers "clarity and certainty," balancing growth with safeguards.